ABN Amro has revised its predictions for the future of gold prices, specifically for the year 2024. The bank has downgraded its outlook from a previous forecast of $2,000 to a new prediction of $1,909.63 for the XAUUSD, the symbol representing the price of gold in US dollars.
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Between the start of the year and 4 May, Gold prices rallied by 13%. Since then, they have lost momentum. Strategists at ABN Amro have downgraded their Gold price forecast for 2024 to $2,000 (from $2,200 before). They now have for 2023 and 2024 a year-end forecast of $2,000.
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